Michael Saylor, founder of Strategy, the world’s largest Bitcoin treasury company, has distanced himself from recent claims that Bitcoin is weak.
In an X-post (formerly Twitter) on Thursday, Saylor blamed the AI boom for draining capital from Bitcoin.
Capital markets are financing AI expansion on a historic scale: ~$400 billion over six months. Bitcoin ETFs have seen outflows of ~$4 billion since May 14, putting pressure on $BTC. This is a capital rotation, not a Bitcoin disorder. Volatility creates opportunities.
Much of BTC’s extended plunge this week to $61,000 occurred after Strategy sold 32 BTC. As someone who has been a proponent of “never sell Bitcoin” for years, this move rattled some investors. For him, however, the dump and the ‘volatility’ were an opportunity.
But longtime Bitcoin critic Peter Schiff disagreed with his formulation and responded:
This isn’t volatility, it’s a price collapse as investors dump Bitcoin to avoid bigger losses or seek better investment opportunities. It is a rejection of your entire thesis.
Bitcoin: Analysts Sound the Alarm on AI IPOs
That said, some analysts amplified Saylor’s argument. Starting with SpaceX’s IPO next week, other top AI companies such as Anthropic and OpenAI will go public between June and October.
In fact, Wintermute’s OTC trading head Jake Ostrovskis and analyst Benjamin Cowen projected that BTC’s bearish pressure will only subside after the planned AI IPOs are over.
For these analysts, the profits from AI trading will flow back into BTC and begin the next four-year cycle again.
Another analyst and Bitwise advisor, Jeff Park, also cleared Strategy’s of the recent BTC dip.
I don’t think Bitcoin is sold by MSTR. I think it’s being tapped to fund the coming hot ball of money moves in the market: SpaceX, Anthropic, whatever else everyone suddenly ‘must own’
How low can the Bitcoin price fall in the medium term?
Since mid-May, Spot BTC ETFs have sold off by more than $4.4 billion, with Bloomberg ETF analyst Eric Balchunas calling it “bad times.”
Average weekly net outflows were $292 million, the highest investor departures since November 2025.
With no institutional bid to cool the pullback, the price of BTC fell to its February low near $61K.
For his part, analyst James Van Straten said that BTC’s decline is currently easing at the 200-week moving average (200WMA, red line).
But him projected the correction could extend to the realized price of $53.8K (orange), citing previous bear market patterns in 2022 and 2018.
Final summary
- Saylor dismissed claims that Strategy would cause BTC’s latest weakness; instead, he blamed the AI boom for the correction.
- Analysts warned that BTC could fall to the realized price of $53K if AI IPO-induced weakness increases.